Air passenger and cargo volume in the Philippines grew by 15% and 37%, respectively, in the first quarter of the year, compared with the same three months last year, thanks mainly to low-cost carriers. Total passenger numbers reached 3.89 million, up from 3.4 million a year earlier, on the back of a 15% increase in seat capacity to 4.9 million. This took load factors to 79%, says the country's Civil Aeronautic Board. Total cargo uplifted increased 37% to 39,100 tons from 28,600 tons.

Singapore Airlines is cautious about expanding capacity despite reversing a first-half loss and ending the year to March 31 with net income of S$216 million. The airline, which slashed capacity by 11% in the past financial year amid a global business downturn, will add just 2% capacity to its network in the year to March 31, 2011. CEO Chew Choon Seng at a post-results briefing said that while there was recovery in all sectors, including in business class, the market remains fragile and yields are not back to pre-crisis levels.

Profits at Singapore Airlines hit S$278 million ($197 million) in the fourth quarter ended March 31, an almost six-fold jump from a year earlier, on the back of a recovery in the aviation business and lower fuel hedging losses. Revenue increased marginally by 0.4% to S$3.3 billion, while expenditure fell by 7.6% to S$3.1 billion.